In the first nine months of 2018 JUBMES banka a.d. Beograd achieved the highest growth rate of the balance sheet amount, deposits and also the highest return on assets

JUBMES banka takes the first place in the Serbian banking sector, in respect with the achieved growth rate of balance sheet amount, deposits and other liabilities towards customers as well as with return on assets recorded in the first nine months 2018, based on information from the non-audited financial reports, published by the local banks. The Bank also takes significant second place in respect with the growth rate of the interest income and profit before taxation, while in respect with growth rate of the return on equity, lendings and receivables from customers the Bank is ranking among first five banks in the Serbian banking sector.

In the first nine months of 2018, the Bank recorded results which confirm its exceptionally positive operational trends. Significant profitability growth was recorded – in the first three quarters of 2018 profit before taxation reached the amount of RSD 430.1 million, being 7.3 times higher compared to the same period in 2017. High balance sheet amount growth of 27.7% was also recorded in the first three quarters. By such results recorded in 2018 (increase of the balance sheet amount and growth of the business activity volume), even the targets defined by Bank’s Strategy for the year 2020 were exceeded. Significant business activity growth, apart from the Bank’s capital growth of 10.6% (cca EUR 3.6 million) recorded in 2018 only, is resulting from the continuous trend of depositors growing trust in the Bank – remarked both with retail and corporate clients. After very high increase of Bank’s deposit potential in 2017, in the first three quarters of 2018 the Bank recorded 41.0% growth of deposits and other liabilities towards customers, together with continous increase of retail clients savings. This affected further progressive growth of placements to Bank’s clients, which were increased over three times since the beginning of the year 2016. This produced 37.3% interest income increase during the first three quarters of 2018, in comparison with the same period in 2017, in spite of the continuous downward trend of interest rates on banks’ placements in the market, which consequently affected the Bank. It should be underlined that at the end of the third quarter, non-performing loans took only 3.95% of total Bank’s loan portfolio, which is significantly under the Serbian banking sector’s average.

Based on the results achieved in the first three quarters of 2018, it can be expected that the Bank will record profit before taxation of cca RSD 500 million, confirming its stable and profitable operations. After many years, such results generate realistic chance for Bank’s shareholders to receive dividends owing to Bank’s successful operations in 2018.

“I am very satisfied with the results achieved in the first three quarters of 2018 and with the continuity of the positive trends in Bank’s operations in the course of the several preceding years. These results confirm the success of Bank’s specific market concept, which does not include the use of wide branches network – especially nowadays, in an era of on-line banking, which enables network reduction, as is the case with many banks. Although JUBMES banka has modest market share, this gives us the competitive advantage over other banks, enabling us to dedicate ourselves to each of Bank’s clients. In the previous period we recognized and took advantage from the positive macro-economic trends, especially the growing demand of corporate clients for financial support, caused by the growing business activities volume present in Serbia. Positive trends in Bank’s operations since the beginning of 2016, resulted in the historically highest level of active placements to clients and the highest deposits level (both total and retail deposits), which makes me especially proud. I would especially emphasize the highest balance sheet amount recorded since the Bank began to operate as an universal commercial bank, i.e. in the course of the last 20 years. As a result of these trends, the number of Bank’s clients has been increased for over 40%. Everything mentioned above was achieved together with maintaining the very stable and high liquidity of the Bank which gives its depositors a basic guarantee” – said Mr Miloš Vujnović PhD, the president of the Executive Board. Mr Vujnović also added:

“I am very preased that one small Bank showed that it is possible to operate in a very competitive market in spite of all challenges. Bank’s volume and its ownership structure may not be the only and exclusive reason for successful operations. It is my pleasure to announce that next year the Bank shall celebrate the 40 years jubilee, remaining dedicated to preserve and improve its uniqueness and continue with successful activities as well as to create value for its shareholders and clients”.

Leave a Reply

Your email address will not be published.